European vegetable oil markets were mostly lower on Thursday following early weakness in CBOT soyaoil and a decline in Malaysian crude palm oil futures, dealers said.
"Markets tended slightly lower due to CBOT developments," one dealer said, referring to an initial decline in soyaoil although CBOT prices subsequently rebounded and edged higher.
Crude palm oil showed one of the most significant declines with weak exports for May contributing to the bearish mood.
Trade picked up at lower levels with June traded at $425.00 per tonne cif, July at $432.50, July/September at $437.50, October-December at $455.00 and January-March at $470.00.
Coconut oil prices also weakened with sellers lowering offers by up to $5.00 per tonne while palmkernel oil offers remained steady. Palm olein changed hands at $415.00 a tonne fob Malaysia for July delivery and $420.00 for July/September with sellers offering at unchanged levels.
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